Asked by
Aylin Silva
on Oct 09, 2024Verified
(Consider This) Ticket scalping:
A) imposes economic losses on both buyers and sellers.
B) creates economic gains for both buyers and sellers.
C) imposes losses on buyers but creates gains for sellers.
D) imposes losses on sellers but creates gains for buyers.
Ticket Scalping
The practice of buying tickets for an event and reselling them at a higher price, often to benefit from high demand and limited supply.
Economic Losses
Economic losses refer to the reduction in financial value experienced by individuals, businesses, or the economy as a whole due to adverse events or decisions.
Economic Gains
Increases in economic welfare, often measured by improvements in income, production, or satisfaction levels.
- Display an understanding of the processes by which market mechanisms allocate resources with efficiency.
Verified Answer
AO
Learning Objectives
- Display an understanding of the processes by which market mechanisms allocate resources with efficiency.